$1,100,000
$995,000
10.6%For more information regarding the value of a property, please contact us for a free consultation.
7 Beds
5 Baths
3,042 SqFt
SOLD DATE : 11/08/2021
Key Details
Sold Price $1,100,000
Property Type Multi-Family
Sub Type Quadplex
Listing Status Sold
Purchase Type For Sale
Square Footage 3,042 sqft
Price per Sqft $361
Subdivision Chaffee Park
MLS Listing ID 7774664
Sold Date 11/08/21
Bedrooms 7
HOA Y/N No
Abv Grd Liv Area 3,042
Originating Board recolorado
Year Built 1942
Annual Tax Amount $5,541
Tax Year 2019
Property Description
WOW! Turn Key- 5 UNITS - TWO BUILDINGS easy 6.5 cap rate with potential for 10+ cap with Short Term Rentals. These properties aren't available very often. This incredibly clean and updated property consists of 2 structures. DUPLEX AND A TRIPLEX on one lot. The front structure is a legal UP/DOWN DUPLEX built in 1951, separately metered with separate heating systems. Both units are spacious 896 sq. ft. 2 bedroom units. It is currently occupied by the owner but is clean and ready to go to be rented out to 2 separate tenants. There is a shared entrance in the rear of the building leading to a common stairwell and shared laundry room currently used by owner but can be used by all tenants as a common space if new owner chooses and increase rents on the Triplex with On-Site Laundry. The duplex recently has a new roof, new furnace and AC unit for the upper unit. This is an EASY duplex rental or to really crank up the returns Short term rent one of the units or both to get an 10+ cap rate. This property has a Denver Address but is in Adams County and non-owner occupant owners can short term rent properties out unlike most Denver Metro counties. The SECOND structure is a TRIPLEX consisting of 3 1-bedroom units. ALL are metered separately. All have been remodeled recently with a new roof and newer windows. All 3 units are leased and Stable with and a combined gross rent of $3,135. Tenants pay all their own utilities and heat is electric baseboard. All triplex units are super low maintenance with Luxury Vinyl flooring and some carpet. There are so many income options. Lots of owner occupant house hack options or keep it turn key with 5 units. Great Location close to Highlands amenities, restaurants and shops, as well as Regis University. Lots of development happening nearby. Great access to I70, I76 and a quick 20 minute jaunt to Boulder. Possible Residential 1-4 unit Financing with the main house duplex as 1 unit plus the back triplex or keep it as a true 5 unit/bank loan.
Location
State CO
County Adams
Zoning R-2
Rooms
Basement Finished
Interior
Heating Forced Air
Cooling Central Air
Flooring Laminate, Tile, Vinyl, Wood
Fireplace N
Laundry Common Area
Exterior
Exterior Feature Private Yard
Roof Type Architecural Shingle, Membrane
Total Parking Spaces 5
Garage No
Building
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
Level or Stories Multi/Split
Structure Type Frame
Schools
Elementary Schools Hodgkins
Middle Schools Scott Carpenter
High Schools Westminster
School District Westminster Public Schools
Others
Senior Community No
Ownership Individual
Acceptable Financing 1031 Exchange, Cash, Conventional, FHA
Listing Terms 1031 Exchange, Cash, Conventional, FHA
Special Listing Condition None
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